An
air source heat pump is a system which transfers heat from outside to
within a building envelope or vice versa. With an increasing focus on
utilizing renewable energy systems for both heating and cooling ones
home, the demand for air source heat pumps is likely to increase
significantly within the forecast period. These air source heat pumps
utilize refrigerants and compressors to transfer heat both to and
from the building envelope. Currently air source heat pumps are being
aggressively utilized as they not only reduce emissions but also
result in significant savings for adopters. Owing to the technology,
air source heat pumps consume far lesser electricity than
conventional heating and cooling systems. Both space heating and
cooling comprise a significant portion of the overall energy
consumption for any household. With rising energy and electricity
prices, homeowners are increasingly looking towards sustainable
heating and cooling systems which would minimize energy expenditure
and generate attractive cash flows in the long term.
Air
source heat pumps are an attractive alternative to conventional
domestic heating systems such as LPG boilers. Although these air
source heat pumps provide numerous advantages over conventional
systems, care must be taken while selecting such a system for one’s
home. Significant care must be taken to ensure that the building is
well insulated before installing an air source heat pump system. Any
heat losses taking place through air leaks might result in
significant reduction in efficiency of the air source heat pump. This
in turn might result in higher energy bills and a delayed payback
period for the overall system. The air source heat pump systems score
over other heat pumps such as geothermal heat pumps in a multitude of
factors. Air source heat pumps require lesser space as compared to
ground source heat pumps. Apart from this, air source heat pumps also
do not require any expensive ground loop installations rendering it
one of the most cost effective heat pump systems that can be
installed at ones home. On the contrary, air source heat pumps are
essentially required to be exposed to the air.
This
in turn might result in vandalism of the equipment or other
mechanical failures since the equipment is continuously exposed. As a
result, air source heat pumps might require slightly higher
maintenance expenditures as compared to other heat pump counterparts
which are housed inside the building envelope. The presence of
supportive regulatory incentive frameworks is instrumental for the
brisk adoption of such heat pump technologies. Both Europe and North
America are currently mature markets for air source heat pumps. The
federal tax credit scheme in the U.S. and the recently implemented
renewable heat incentive (RHI) scheme in the Europe are likely to
result in brisk adoption of air source heat pumps within the forecast
period. The Asia-Pacific is also likely to emerge as an attractive
market for this technology. Owing to a rapidly increasing disposable
income and numerous initiatives to curb emissions, the Asia Pacific
market is likely to briskly adopt the air source heat pump technology
within the forecast period. With the retraction of the federal tax
credit scheme in 2016, the exact market trends for air source heat
pumps in North America cannot be predicted with certainty. However
the RHI scheme is likely to remain for a long period of time
bolstering adoption of air source heat pump in the European domestic
sector.
Some
of the market players in the air source heat pump business include
Finn Geotherm Ltd., Bosch, and Aiwasun Green Technologies among
others.
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